Robeco Institutional Asset Management B.V. Sells 21,315 Shares of The Progressive Co. (NYSE:PGR)

Robeco Institutional Asset Management B.V. lessened its stake in shares of The Progressive Co. (NYSE:PGRFree Report) by 31.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,319 shares of the insurance provider’s stock after selling 21,315 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Progressive were worth $7,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in PGR. Wellington Management Group LLP lifted its holdings in shares of Progressive by 14.1% in the 3rd quarter. Wellington Management Group LLP now owns 21,554,503 shares of the insurance provider’s stock valued at $3,002,542,000 after acquiring an additional 2,666,449 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Progressive by 3.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,935,652 shares of the insurance provider’s stock valued at $2,378,951,000 after acquiring an additional 520,742 shares during the period. Northern Trust Corp grew its position in Progressive by 2.8% in the 3rd quarter. Northern Trust Corp now owns 5,982,841 shares of the insurance provider’s stock valued at $833,410,000 after acquiring an additional 162,916 shares during the last quarter. Deutsche Bank AG increased its stake in Progressive by 2.9% in the third quarter. Deutsche Bank AG now owns 5,641,166 shares of the insurance provider’s stock worth $785,814,000 after purchasing an additional 156,332 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Progressive by 31.8% during the third quarter. Invesco Ltd. now owns 4,781,075 shares of the insurance provider’s stock worth $666,004,000 after purchasing an additional 1,154,591 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Progressive news, Director Devin C. Johnson sold 1,000 shares of Progressive stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the transaction, the director now owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Progressive news, Director Devin C. Johnson sold 1,000 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now directly owns 7,176 shares of the company’s stock, valued at $1,494,976.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Steven Broz sold 7,361 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $207.25, for a total value of $1,525,567.25. Following the sale, the insider now owns 35,503 shares of the company’s stock, valued at $7,357,996.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,500 shares of company stock valued at $8,983,706. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PGR. Citigroup raised their price target on shares of Progressive from $202.00 to $225.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. BMO Capital Markets lifted their price target on shares of Progressive from $234.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on Progressive from $232.00 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. raised their price objective on Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, HSBC increased their price target on Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Progressive presently has an average rating of “Hold” and a consensus price target of $214.88.

View Our Latest Analysis on Progressive

Progressive Price Performance

Shares of NYSE PGR opened at $209.22 on Monday. The Progressive Co. has a 52 week low of $111.41 and a 52 week high of $217.77. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. The firm has a market cap of $122.54 billion, a P/E ratio of 21.41, a P/E/G ratio of 0.81 and a beta of 0.34. The business’s 50 day moving average price is $208.37 and its 200 day moving average price is $183.91.

Progressive (NYSE:PGRGet Free Report) last posted its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. The company had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, sell-side analysts expect that The Progressive Co. will post 11.53 earnings per share for the current year.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.40 annualized dividend and a yield of 0.19%. Progressive’s dividend payout ratio is presently 4.09%.

Progressive Company Profile

(Free Report)

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.

See Also

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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